CSAV
Relevant Information
As of December 31, 2023
- Quiñenco's interest: 66.5%
- Book value of investment: Ch$4,714,830 million
- Investment since: 2011
- Employees: 16
Address
- Av. Apoquindo 2827, suites 1401 and 1402, Las Condes, Santiago - Chile
- Telephone: (56) 22588 6000
- www.csav.com
Compañía Sudamericana de Vapores S.A. (CSAV) develops its main business, containerized freight transport, through its interest in the German shipping company Hapag-Lloyd AG (Hapag-Lloyd).
CSAV is an open-stock company that has traded its shares since 1893. Quiñenco first invested in CSAV in 2011, and holds a 66.5% stake as of December 2023. With 30.0% of the share capital as of December 31, 2023, CSAV is one of Hapag-Lloyd’s main shareholders, maintaining significant influence and control jointly with the City of Hamburg and Kühne Maritime, under a shareholders’ agreement which allows them to control 73.6% of the company’s ownership.
Hapag-Lloyd operates a global network of 110 liner services with connections between all continents and over 400 offices in 140 countries.
In May 2017, Hapag-Lloyd materialized a merger with United Arab Shipping Company (UASC), thus becoming one of the five main container ship companies worldwide. Due to the merger, CSAV’s stake in Hapag-Lloyd decreased to 22.6%, increasing to 27.8% at year end 2019.
During the first quarter of 2020, CSAV acquired an additional stake in Hapag-Lloyd, reaching 30.0% ownership.
CSAV is an open-stock company that has traded its shares since 1893. Quiñenco first invested in CSAV in 2011, and holds a 66.5% stake as of December 2023. With 30.0% of the share capital as of December 31, 2023, CSAV is one of Hapag-Lloyd’s main shareholders, maintaining significant influence and control jointly with the City of Hamburg and Kühne Maritime, under a shareholders’ agreement which allows them to control 73.6% of the company’s ownership.
Hapag-Lloyd operates a global network of 110 liner services with connections between all continents and over 400 offices in 140 countries.
In May 2017, Hapag-Lloyd materialized a merger with United Arab Shipping Company (UASC), thus becoming one of the five main container ship companies worldwide. Due to the merger, CSAV’s stake in Hapag-Lloyd decreased to 22.6%, increasing to 27.8% at year end 2019.
During the first quarter of 2020, CSAV acquired an additional stake in Hapag-Lloyd, reaching 30.0% ownership.
Highlights
in thousands of US dollars as of December 31 of each year| 2022 | 2023 | |
|---|---|---|
| Operating income (loss) | (38,427) | (15,298) |
| Non-operating income | 5,352,543 | 950,795 |
| Net income attributable to owners of the controller | 5,563,209 | 258,099 |
| Total assets | 10,296,575 | 8,268,657 |
| Total liabilities | 2,382,078 | 180,106 |
| Shareholder's equity | 7,914,497 | 8,088,551 |